Page 21 - CityofSouthlakeFY25AdoptedBudget

The City has taken an additional formal step to understand and plan for the organization’s financial future by
adopting the Southlake Sustainability Plan as an element of the Southlake Comprehensive Plan. It contains
formal recommendations to ensure positive financial outcomes for the City (highlighted in Figure 4). The full
Economic & Fiscal Wellness section of this plan is also in the Appendix of this document. It is important to
Budget Overview
note that staff is currently working with the City Council to update this plan with formal adoption scheduled
during FY 2025.

This budget has been prepared with the multi-year analysis as part of the budget development criteria. To
review the multi-year analysis further, see the Multi-Year Operating Plan section of this document.

Figure 4
Economic / Fiscal Wellness Priorities identified
in the Southlake Sustainability Plan

EFW1: Apply sound financial
policies to the City’s budget by EFW3: Fund and adopt
maintaining structural balance, EFW2: Apply debt annual City operating budget,
strong reserves, conservative management strategies to the
budgeting, effective economic City’s budgeting capital projects and equipment
analysis and understanding the through sound financial policies
true cost of doing business

Conclusion

The FY 2025 Adopted Operating Budget has been developed in adherence to the City’s established
financial principles and with the City’s strategic goals in mind. It implements recommendations of the
Southlake Comprehensive Plan. It provides high quality service delivery for ongoing programs and services
and implements initiatives to provide for long-term financial sustainability, including aggressive debt
management. It addresses employee compensation and benefits to ensure that Southlake continues to
be an employer of choice. Multi-year financial planning has guided the development of this budget. This
budget accomplishes all of these goals while providing important tax relief and maintaining as low of a tax
rate as possible.

I want to thank the Mayor and City Council for your guidance and decisions made during strategic workshops
and budget work sessions and reiterate my thanks to every member of our team who worked to contribute
to the preparation of this budget proposal. We are looking forward to beginning the new fiscal year with its
new opportunities.

Respectfully submitted,

Alison D. Ortowski

Alison D. Ortowski
City Manager

FY 2025 City of Southlake | Budget Book 21